Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Pioneer Capital sells Pukeko Pictures stake

Pioneer Capital sells Pukeko Pictures stake to China's Hengxin Shambala Culture

By Paul McBeth

March 12 (BusinessDesk) - Investment firm Pioneer Capital has settled the sale of its 33 percent stake in Wellington TV and film animation production house Pukeko Pictures to China's Hengxin Shambala Culture for $15 million.

The change in ownership has appeared in Companies Office filings and reflected the settlement of an agreement with Shenzhen Stock Exchange-listed Hengxin Shambala in November, Pioneer investment director Craig Styris said in an email. At the time, the Chinese firm said it was buying two New Zealand firms for $15 million and later said it signed an agreement with Pukeko Pictures and other partners on the first stage of a 450 million yuan theme park. The Kiwi production company has described its involvement as providing location-based experiences, combining elements of interactive museums and theatre.

"We've been investors in Pukeko Pictures since 2010 and are very proud of all its accomplishments, and are excited to see it capitalise on the further opportunities in front of the business," Styris said.

Pioneer invested in Pukeko Pictures to help finance its second series of the animated children's programme 'The WotWots', which was first introduced to China in 2011.

Last November, Pukeko Pictures chief executive Clive Spink signed a memorandum of understanding with Blossom Pictures' unit Shambala Cultural Industry Investment and China Development Oriental, a joint venture between China Development Bank and Oriental Holdings, for its 'Kiddets' preschool show to be part of a children's theme park in Beijing.

(BusinessDesk)

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Business Headlines | Sci-Tech Headlines

 
GenPro: General Practices Begin Issuing Clause 14 Notices

GenPro has been copied into a rising number of Clause 14 notices issued since the NZNO lodged its Primary Practice Pay Equity Claim against General Practice employers in December 2023.More

SPADA: Screen Industry Unites For Streaming Platform Regulation & Intellectual Property Protections

In an unprecedented international collaboration, representatives of screen producing organisations from around the world have released a joint statement.More

 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.